Micron (MU) : It’s Now The Flagship Stock 💪🎉💯🔥
Micron Technology forecast quarterly revenue above estimates on Wednesday and said customers had increased commitments under its long-term supply agreements to $32 billion, signaling unabated demand for AI memory chips.
The company's stock has more than tripled so far this year, propelling it into the $1 trillion valuation club in May on optimism about its AI-driven growth prospects. After rising more than 2% in extended trading earlier on Wednesday, its shares were last flat.
In Taiwan, Micron is reportedly giving $32,000 cash bonuses after record profits driven by AI memory demand.
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